Logo of Lazurde
Lazurde Company for Jewelry announced that the rights issue prospectus is now available on the Capital Market Authority (CMA) and its websites, according to a bourse filing.
The company seeks to increase capital by 34% to SAR 575 million.
In April, the CMA approved the request from Lazurde to increase its capital through a rights issue worth SAR 145 million, Argaam reported.
The company's extraordinary general assembly meeting (EGM) is scheduled for June 2, 2021, to discuss the capital increase.
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Details of Capital Increase |
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Current Capital |
SAR 430 mln |
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Number of Shares |
43 mln shares |
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Capital Hike |
34% |
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Capital After Increase |
SAR 575 mln |
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Number of Shares After Increase |
57.5 mln shares |
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Details of Rights Issue |
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Number of Offered Shares |
14.5 mln shares |
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Offering Price |
SAR 10 |
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Issue Size |
SAR 145 mln |
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Record Date |
Shareholders of record on the day of the EGM (June 2, 2021) during which the capital increase will be discussed, along with those on record on the second trading day following the EGM |
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Use of proceeds |
Repayment of long-term bank facilities from SABB |
SAR 75 mln |
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Repayment of long-term bank facilities from SABB |
SAR 30 mln |
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New store openings, expanding the retail business portfolio |
SAR 28 mln |
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Developing e-commerce platforms |
SAR 6 mln |
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Offering expenses |
SAR 6 mln |
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